For Sale By Owner's (FSBO) Decline
Homes sold without the help of a real estate professional dropped to a record low over the past year. According to the 2010 National Association of REALTORS® Profile of Home Buyers and Sellers, unrepresented sellers made up only 11 percent of the market, down from 13 percent in 2009.
Owners who sell their home without the help of an agent usually sell to someone they already know. Factoring out those private sales, the actual number of homes sold on the open market without professional assistance was a record low 5 percent, compared to 10 percent in 2004.
REALTOR® Value...
The current market's complexities underscore the value that Realtors® bring to their clients. Many home sellers underestimate the time commitment, sales process and negotiating skills it takes to sell their home for best price and terms. Unless a person is familiar with the process of selling real estate, negotiating contracts, dealing with counter offers, inspections, contingencies etc. it can be a very arduous and frustrating time.
There are many beneficial reasons why you should use a Realtor to sell your home but here are the top 3.
1. More exposure and marketing: Placing a "for sale" sign in front of your property and putting an ad in the local newspaper will not likely get your home sold. Realtors have an array of avenues for which they can go to bring maximum exposure to your property.
2. Higher probability of finding qualified buyers: Let's face it, finding qualified buyers these days is a tough job, even for t he most experienced Realtor. But experienced Realtors know the value of qualifying those buyers prior to showing them any homes on the market. They know the questions to ask potential buyers in order to weed the ones out who are "just looking" as well as where to direct those who are serious but need a hand to hold while going through the process of getting pre-qualified.
3. Setting a price: One of the most important services a Realtor® can help a home seller with is setting a listing price for the home. There is more to the process then just picking a number out of the air and hoping it is the right one. Setting the price too high will scare off potential buyers and too low, well you may just miss out on potential profits. A formal CMA (comparative market analysis) will be done using comps in the area of similar sold properties, and working together with the home seller to come up with a realistic asking price while meeting their needs and expectations.
Selling a home is no easy task to say the least, but it can be a less stressing experience for the home seller. Let's look at it this way, if you needed legal or medical advice would you rely on your own knowledge to get you through the situation or would you consult a professional to get the best possible outcome?
You would consult a professional, so why would you take the risk of selling your home yourself without the aid of an experienced REALTOR®?
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